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h0k5h0k5 Updated  Sep 16, 2024

Gold bulls are rising higher and higher, without any pullback. It's Friday now, so there's no need to chase the rise. Slow rises are often followed by sharp declines, so don't chase the longs easily. Gold is a bit stagnant, short at 2579. Gold has limited room to rise further. The room for gold to rise further is limited. If you don’t chase the long position at...

h0k5h0k5 Updated  Sep 16, 2024

Gold soared yesterday and is currently in the 2568 area. Today, the rising speed has obviously slowed down. According to the current trend, pay attention to the 2570-0575 area on the top. Don't blindly chase the rise. It is recommended to rely on this area to short once, and the target is the 2550 area. If it does not break 2550, then you can continue to go long....

h0k5h0k5 Updated  Sep 16, 2024

Today, gold is still focusing on the pressure of the previous high of $2531. If it does not break, you can short and look for a retracement. The primary target is $2510. After breaking through, look at $2500-2493. If it breaks up unexpectedly in the evening, the bulls can extend to around $2540 and you can go short again. The retracement target remains unchanged.

h0k5h0k5 Updated  Sep 16, 2024

Yesterday, the overall gold price went through a bottoming-out and rebounding route. The lowest price in the morning fell back to the low point of 2485 on Friday night and then rebounded. The highest price rebounded to 2505 during the US trading session and then fell back. After the short-term bottoming out in the previous two trading days, the daily line formed a...

h0k5h0k5 Updated  Sep 16, 2024

Analysis of gold news: Spot gold hit a high and then fell back during the U.S. market on Tuesday (September 10), and is currently trading around $2504.22 per ounce. Gold prices rebounded slightly on Monday, rising above the 2500 mark and closing at $2506.04 per ounce. The rebound in U.S. Treasury yields was blocked and hovered around 15 lows, providing gold with a...

h0k5h0k5 Updated  Sep 16, 2024

Two important things this week: 1. The debate between US presidential candidates Trump and Harris on September 10. After the debate, the market may make new pricing on which of the two is likely to win the November election and become the new US president, thus affecting the short-term trend; 2. The monthly CPI data of the United States will be released on...

h0k5h0k5 Updated  Sep 16, 2024

After the non-farm data on Monday (September 9), the market's expectations for the Federal Reserve to cut interest rates by 50 basis points in September cooled down. The US dollar index rebounded after hitting the bottom, causing the gold price to fall below the 2,500 mark, and the short-term bearish signal of the gold price has increased. At present, the US...

h0k5h0k5 Updated  Sep 16, 2024

The unemployment benefits data has been released, which shows that gold is bullish. However, there is strong resistance at the previous high above and it has not been successfully broken through. Therefore, it is recommended not to blindly chase the rise. You can rely on the resistance in the 2530 area to short gold in the short term. Making money is the only...

h0k5h0k5 Updated  Sep 16, 2024

Following the trend, continue to go long on gold as it falls back. The Federal Reserve will announce its decision tomorrow, and interest rate cuts have become settled. If the base of the interest rate cut is higher than expected, then gold will soar again. Short positions are not recommended for the time being. Pay attention to the support of the 2497-2506 area...

h0k5h0k5 Updated  Sep 16, 2024

The Federal Reserve released the Beige Book on economic conditions on the day. The main content of the Beige Book explained that economic growth in 9 of the 12 regions declined or remained flat, and only the other three regions grew slightly. In other words, the overall basis of the Beige Book is dovish. Ultimately, the above three sets of data (events) formed a...

h0k5h0k5 Updated  Sep 16, 2024

On September 5, the spot gold market once again showed strong gains. The price of gold exceeded US$2,515 per ounce in early European trading, with an intraday increase of more than US$20. Recently, the main driver of the gold market has been the direction of U.S. economic data. As the market pays close attention to the U.S. ADP employment change data and ISM...